An old car dropped in an industrial trash bin advertising the Cash for Clunkers program at Battlefield Ford in Culpeper, Virginia, August 1, 2009. REUTERS/Jonathan Ernst
The Obama administration plans to end the popular $3 billion Cash for Clunkers program on Monday at 8 p.m EDT, The Associated Press has learned.
Two congressional officials familiar with the plan say the Transportation Department will wind down the program that offers car buyers rebates of $3,500 or $4,500 for trading in older vehicles for new, more fuel-efficient models. The officials spoke on condition of anonymity because they were not authorized to speak publicly about the plan.
The Obama administration was set to announce details on Thursday.